Gold and silver prices came under pressure today, slipping sharply after the United States announced a blockade of the Strait of Hormuz, triggering volatility in global markets.
On the Multi Commodity Exchange (MCX), gold futures fell 0.78 per cent, or Rs 1,195, to touch an intraday low of Rs 1,51,457 per 10 gram.
Silver futures also witnessed a steep decline, dropping Rs 6,084 or 2.5 per cent to hit Rs 2,37,190 per kg during intraday trade.
Analysts attributed the fall to heightened geopolitical tensions and a stronger US dollar, which weighed on investor sentiment in the bullion market.
Experts noted that price volatility is likely to persist, with traders closely tracking global developments and central bank policy cues.
